Movement Alert|KIOXIA Holdings Rises 17.62% in Regular Trading, Announces Plan to List on US Mainboard Next Year Q2

Market Focus06-25

On June 25, KIOXIA Holdings rose 17.62% in regular trading, trading at $63.52/share, with turnover of $26.85 million.

On the news front, KIOXIA Holdings officially announced at its annual general meeting of shareholders that it plans to issue American Depositary Shares (ADS) in the second quarter of the next fiscal year to pursue a US mainboard listing. Currently, KIOXIA ADR only trades on the over-the-counter market. A mainboard listing would require filing regulatory documents with the SEC and is expected to attract significantly more institutional investor participation. CFO Yoshihiko Kawamura stated the company will make every effort to ensure the project succeeds.

Benefiting from AI-driven memory demand, KIOXIA has become Japan's highest market-cap company. Within the Semiconductors sector, peer Micron Technology rose 13.84% on the same day, reflecting a notable recovery in sector sentiment. Meanwhile, analyst firm Bernstein previously maintained an Underperform rating on KIOXIA, estimating 50% downside and expecting NAND flash prices to peak by 2027 with gross margins reverting to around 30%.

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